Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 11/13/20
Our newsletter presents key trends derived from observable Investment Grade Corporate Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 11/6/20 – 11/13/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | CCL 1 10/28/2029 | 1.00% | 10/28/29 | 15.76% | 67.08 | 57.95 |
| 2 | AFFP 1.875 1/16/2025 | 1.88% | 01/16/25 | 13.45% | 83.81 | 73.87 |
| 3 | TRGV 6.625 2/17/2045 | 6.63% | 02/17/45 | 11.88% | 98.78 | 88.29 |
| 4 | GATESW 3 2/28/2022 | 3.00% | 02/28/22 | 10.05% | 79.30 | 72.05 |
| 5 | CCAPGR 3.5 4/15/2023 | 3.50% | 04/15/23 | 8.91% | 81.69 | 75.01 |
| 6 | GATAIR 2.875 7/5/2049 | 2.88% | 07/05/49 | 7.60% | 93.06 | 86.49 |
| 7 | HTHROW 2.75 8/9/2049 | 2.75% | 08/09/49 | 7.45% | 98.57 | 91.74 |
| 8 | EZJLN 1.125 10/18/2023 | 1.13% | 10/18/23 | 7.15% | 95.11 | 88.77 |
| 9 | PSX 4.875 11/15/2044 | 4.88% | 11/15/44 | 6.61% | 121.33 | 113.81 |
| 10 | AKBNK 6.8 2/6/2026 REGS | 6.80% | 02/06/26 | 6.36% | 102.48 | 96.35 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 11/6/20 – 11/13/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | SSELN 1.429 10/20/2056 | 1.43% | 10/20/56 | -7.72% | 162.49 | 176.08 |
| 2 | HTHROW 1.372 1/28/2049 | 1.37% | 01/28/49 | -7.52% | 130.54 | 141.15 |
| 3 | UU 1.702 11/21/2057 | 1.70% | 11/21/57 | -7.24% | 194.16 | 209.32 |
| 4 | W 0.625 10/1/2025 | 0.63% | 10/01/25 | -7.19% | 97.12 | 104.64 |
| 5 | SSWTR 1.843 6/30/2051 | 1.84% | 06/30/51 | -6.80% | 174.99 | 187.75 |
| 6 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | -6.24% | 144.95 | 154.60 |
| 7 | OXUNIV 2.544 12/8/2017 | 2.54% | 12/08/17 | -6.15% | 134.67 | 143.50 |
| 8 | VZ 8.75 8/15/2031 | 8.75% | 08/15/31 | -5.53% | 145.69 | 154.21 |
| 9 | LRN 1.125 9/1/2027 | 1.13% | 09/01/27 | -5.04% | 80.46 | 84.74 |
| 10 | AFFNTY 1.548 6/1/2045 | 1.55% | 06/01/45 | -5.04% | 157.81 | 166.19 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 11/6/20 – 11/13/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Construction & Building | -41 bps | 0.85% | 1.26% |
| 2 | Telecommunications | -33 bps | 0.95% | 1.28% |
| 3 | Hotel, Gaming & Leisure | -25 bps | 3.19% | 3.44% |
| 4 | Media: Diversified & Production | -15 bps | 0.90% | 1.05% |
| 5 | Transportation: Cargo | -12 bps | 0.90% | 1.03% |
| 6 | Forest Products & Paper | -10 bps | 0.82% | 0.92% |
| 7 | Utilities: Electric | -9 bps | 1.19% | 1.27% |
| 8 | Media: Advertising, Printing & Publishing | -8 bps | 0.42% | 0.50% |
| 9 | Healthcare & Pharmaceuticals | -8 bps | 0.68% | 0.76% |
| 10 | Insurance | -4 bps | 1.57% | 1.61% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 11/6/20 – 11/13/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Services: Consumer | 1061 bps | 20.79% | 10.18% |
| 2 | Metals & Mining | 111 bps | 4.56% | 3.45% |
| 3 | Sovereign & Public Finance | 74 bps | 1.35% | 0.61% |
| 4 | Services: Business | 34 bps | 1.07% | 0.73% |
| 5 | Real Estate | 34 bps | 2.15% | 1.81% |
| 6 | Utilities: Water | 33 bps | 1.32% | 0.99% |
| 7 | Environmental Industries | 28 bps | 1.22% | 0.94% |
| 8 | Beverage, Food & Tobacco | 25 bps | 1.10% | 0.85% |
| 9 | Consumer Goods: Durable | 21 bps | 1.55% | 1.35% |
| 10 | Consumer Goods: Non-Durable | 18 bps | 1.26% | 1.08% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 11/6/20 – 11/13/20
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 11/6/20 – 11/13/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 11/6/20 vs. the week ending 11/13/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | EQT 7.875 2/1/2025 | 7.88% | 02/01/25 | 119 | 213 | 94 | 79% |
| 2 | TSINGH 6 12/10/2020 | 6.00% | 12/10/20 | 54 | 129 | 75 | 139% |
| 3 | MEITUA 2.125 10/28/2025 REGS | 2.13% | 10/28/25 | 63 | 116 | 53 | 84% |
| 4 | BA 3.25 2/1/2028 | 3.25% | 02/01/28 | 92 | 141 | 49 | 53% |
| 5 | MEITUA 3.05 10/28/2030 REGS | 3.05% | 10/28/30 | 68 | 116 | 48 | 71% |
| 6 | USB 0 PERP | 1.35% | 12/29/49 | 28 | 67 | 39 | 139% |
| 7 | PEAKRN 5.35 PERP | 5.35% | 10/28/99 | 22 | 59 | 37 | 168% |
| 8 | PM 1.75 11/1/2030 | 1.75% | 11/01/30 | 123 | 154 | 31 | 25% |
| 9 | XEL 2.6 3/15/2022 | 2.60% | 03/15/22 | 44 | 74 | 30 | 68% |
| 10 | BAX 1.73 4/1/2031 144A | 1.73% | 04/01/31 | 92 | 122 | 30 | 33% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 11/6/20 – 11/13/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 34 |
| 2 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 34 |
| 3 | PETBRA 6.75 1/27/2041 | 6.75% | 01/27/41 | 33 |
| 4 | PETBRA 6.75 6/3/2050 | 6.75% | 06/03/50 | 33 |
| 5 | PETBRA 5.6 1/3/2031 | 5.60% | 01/03/31 | 33 |
| 6 | PETBRA 5.093 1/15/2030 REGS | 5.09% | 01/15/30 | 32 |
| 7 | PETBRA 5.299 1/27/2025 | 5.30% | 01/27/25 | 30 |
| 8 | PETBRA 5.375 1/27/2021 | 5.38% | 01/27/21 | 29 |
| 9 | HSBC 6.875 12/29/2049 | 6.88% | 12/29/49 | 29 |
| 10 | F 9 4/22/2025 | 9.00% | 04/22/25 | 29 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 11/6/20 – 11/13/20
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 11/6/20 – 11/13/20
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